Egypt’s Information Technology Industry Development Agency (ITIDA) and venture capital firm Flat6Labs have launched the InvestIT programme, aimed at providing Egyptian tech startups, particularly those at the seed or pre-Series A stages, with access to consultancy, tools, and investor connections to help them scale operations and enhance their global competitiveness.
The programme is managed by the Technology Innovation and Entrepreneurship Center (TIEC), a subsidiary of ITIDA, and will support startups across various governorates, fostering innovation and growth within Egypt’s digital economy. The InvestIT programme will unfold in two phases: the first phase will prepare startups for investment through tailored training sessions and workshops, while the second phase will connect these startups with local and international investors.
Dr. Amr Talaat, Egypt’s Minister of Communications and Information Technology stated;
The Egyptian government remains steadfast in its dedication to cultivating a thriving tech startup ecosystem. We are rolling out diverse initiatives to equip entrepreneurs with essential skills, attract global incubators, and facilitate connections between startups and investors. By establishing Digital Egypt innovation hubs nationwide, we empower innovators to transform their ideas into successful ventures. Alongside this, we are streamlining processes and investing in advanced digital infrastructure, positioning Egypt among the top three countries in the Middle East and Africa for tech startup investments.
Hany El Sonbaty, founder and chairman of Flat6Labs, highlighted the expansion of his company’s support for Egyptian entrepreneurs through the InvestIT programme.
This programme is not just about preparing startups for investment; it’s about equipping them with the tools and connections to scale their impact. Through our collaboration with ITIDA and TIEC, we’re committed to building a strong, vibrant ecosystem where startups can make a real impact on the tech landscape in Egypt.
The InvestIT programme is set to support 12 startups over a period of six to eight months. Each startup will receive tailored consultancy services to enhance their investment readiness, assist with setting up data rooms, and prepare for investor engagements.
Eligible startups must be at the seed or pre-Series A stage, possess a scalable product or service, and have been operating for at least two years. This initiative is designed to provide these startups with the necessary resources and connections to succeed in the competitive global market.
